Walmart's Chief Marketing Officer to Leave as Market Condition Remains Difficult

It is learned that on April 14, Walmart CEO John Furner disclosed in an internal memo shared with US colleagues that Walmart Chief Marketing Officer Charles Redfield will leave on May 1 after a little more than a year in office, and revealed that Walmart will face a more difficult market environment this year.

In the memo, John Furner said the executive wanted to spend more time with his family. Charles Redfield has been with Walmart for 32 years and took on the role of chief marketing officer in January 2022.

The departures come after Walmart warned that 2023 would be a more challenging year for the retailer as it grapples with rising grocery prices and weak sales of traditional holiday products.

Walmart forecast slower sales and profit growth in February despite last year’s strong holiday season. Grocery sales were strong during the holiday season, but sales of traditional holiday items such as toys, electronics and apparel slowed, suggesting consumers are cutting back on discretionary spending.

In its most recent quarter, ended Jan. 31, Walmart revealed that its U.S. stores open at least a year did achieve an 8.3% sales increase, thanks to more customers buying its private-label brands and more higher-income households shopping at its stores.

But the entire retail industry is expected to face challenges this year after poor holiday sales, according to CNN.

“There is still a lot of pressure on the consumer,” said John Rainey, Walmart’s chief financial officer. “Balance sheets are thinning and savings rates are declining relative to prior periods. So that’s why we’re being cautious about the remainder of the year.”

Charles Redfield was promoted to chief marketing officer of Walmart's UK subsidiary Asda in 2010. He returned to the United States in May 2012 to serve as executive vice president of marketing for Sam's Club, and then moved to Walmart US in 2015 as food EXP.

The memo emphasized that Charles Redfield's focus has been on leading his team to work with suppliers to lower prices and ensure that customers can always find the goods they need and want at the lowest possible prices, especially as inflation begins to soar.

In the context of sluggish consumer demand, Walmart has also begun to reduce costs and increase efficiency, and leadership reorganization may be one of its cost-cutting measures.

Walmart reiterated at its annual investor meeting earlier this month that its inventory is within 10 miles of 90% of the U.S. population, and Furner called its 5,000 stores across the U.S. "critical nodes" in its omnichannel operation.

Walmart said it expects about 65% of its stores to have automation capabilities by the end of fiscal 2026, 55% of goods in its fulfillment centers will move through automated facilities, and average unit costs could fall by about 20%.

Editor✎ Ashley/

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